The Egyptian Company for Transport and Trade Services (EGYTRANS) and NAFITH International have signed a contract with the General Authority for the Suez Canal Economic Zone to develop a 114,000-square-meter truck marshalling yard at West Port Said Port. The project will be executed through a newly formed company, Nafith Egypt, capitalized at 60 million pounds. NAFITH International will hold a 70% stake, with EGYTRANS owning the remaining 30%.
This venture follows a period of strong financial performance for EGYTRANS. The company reported a net profit of 197.14 million pounds for the first nine months of 2024, a significant increase from the 37.65 million pounds earned during the same period last year. Revenues also saw substantial growth, rising to 580.3 million pounds from 276.15 million pounds.